Google / Waze Deal Being Eyed By The FTC
Google has confirmed that such an investigation is ongoing, but won't speak further on the details. Media reports suggest that the breaking up of the deal is unlikely, as the FTC would, at this point, need to provide evidence that the combination of companies would "significantly crimp competition in the mapping market." Given how few (relatively) users Waze has, that's unlikely to be the case. In fact, Waze's revenue stream was too low to trigger an automatic investigation to begin with.
Still, it's one more headache for Google as it attempts to move forward and utilize Waze's expertise in mapping, and for consumers, it's just one more legal hurdle bothering a company that would rather be innovating.